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A company car is a car provided to you by your employer. Company cars are meant to be used for both business and personal reasons, and employers often encourage their employees to use them for the sake of keeping up appearances and aligning with company branding. Using a company car can be quite nice, especially if you are required to travel a lot for your job. They tend to be purchased in fleets so that each employee has the same kind of car, but in some cases, the employee can choose a company car from a list of pre-approved luxury cars.
Suppose your employer doesn’t like the idea of you driving your old clunker around while also representing the company. Of course, it’s not really anyone’s business what kind of car you drive, but opting to drive a company car during business trips often means you get to drive a really nice car like the Kia EV6 UK, which most people find quite exciting. The question is: how do you know when it’s time to upgrade the company car? Read on to find out more!
It’s Time to Upgrade the Company Car
If Your Company Car is Older Than 5 Years
This has to do with the warranty of your company vehicle. Usually, if your company car is older than 5 years, its warranty has ended. Should something go wrong with your car after this point, you’ll potentially be at risk of being charged a whole lot more for various damages. The good news is these warranty periods are getting longer.
Cars have gotten more durable over time, and we’ve gotten better at designing them with peak efficiency in mind. While it used to be common practice to upgrade your company car every 3 or 4 years, 5 years is now considered to be the new normal for company car warranty periods.
If Your Company Car Has Gotten Severely Damaged
Naturally, you want your company car to be in good shape if you’re going to be driving it all around the UK. Minor scratches and dings in the hood are just a normal part of driving and are usually nothing to worry about. However, more severe cosmetic damage can be a much bigger issue. Besides severe damage to your company vehicle can harm your limited company, certain types of damages can actually be quite dangerous.
Bad dents in your car’s door can damage the door’s locking mechanism, which is very dangerous in the event of a crash. Severe paint scratches can lead to rusting, which weakens the overall structural integrity of the car if left untreated. Auto accidents happen, and even if your company car seems “okay,” it probably won’t be in the long run. For this reason, it’s always a good idea to replace your company car if it gets severely damaged.
If Your Company Car Has Outdated Safety Features
Safety should always be your first priority while driving, and most car manufacturers agree! New cars these days tend to have extensive safety features like lane departure warnings, brake assistance, and adaptive cruising. You’re going to be driving your company car a lot, sometimes during inclement weather or when it’s very dark out. If your company car has outdated safety regulations(which is likely if you’ve had it for a while), it is definitely time to replace it.
If Your Company Car Has Gone Over 100,000 Kilometres
Once you’ve logged a solid amount of kilometres in your company car, it is going to start costing you more money to properly maintain it. Most people don’t consider this, and granted, your company car probably still has a few years left in it at this point.
However, attempting to maintain the company car at this point is likely to end up being quite a financial burden on your company. It’s always a good idea to replace your company car once it hits the six-figure mark. You’ve gotten a lot of use out of it, and now it’s time to retire it.
Final Thoughts
Updating your company car is not only beneficial for the company. It’s also quite nice for you! Car technology is improving every year, and staying on top of the latest car trends will ensure your safety and efficiency while driving. You owe it to yourself and your company to make sure you’re driving the safest car possible. You’ll also look pretty cool driving around a brand-new car every few years, don’t you think? We highly recommend it!